Obama to name Yellen as next Fed chair on Wednesday -White House

October 08, 2013|Reuters

WASHINGTON, Oct 8 (Reuters) - U.S. President Barack Obamawill nominate Federal Reserve Vice Chairwoman Janet Yellen to bethe next head of the U.S. central bank on Wednesday, a WhiteHouse official said on Tuesday.

If confirmed, Yellen would replace Ben Bernanke, whosecurrent term as head of the Fed ends in January. Obama is due tomake the announcement at the White House at 3 p.m. (1900 GMT).